Thursday, August 04, 2011

Amid All of the Bad News, a Few Positive Items

1. Luxury Goods Fly Off Shelves -- "The luxury category has posted 10 consecutive months of sales increases compared with the year earlier, even as overall consumer spending on categories like furniture and electronics has been tepid. In July, the luxury segment had an 11.6 percent increase, the biggest monthly gain in more than a year." (HT: Cabodog)

6 Comments:

The Plutonomy was a report issued by Citigroup back in 2008/9. Basically, it said that a super-rich class at the top of the USA, Japan, Europe, Oil Nations and even China has so much wealth and income that if they invest and spend, then the economy clicks. If not, then not....

I guess we have to pander and cater to to the top 1 percent...

I am happy luxury goods are flying off the shelf. Please rich people keep on spending and investing, the rest of us don't really count for much.